On June 18, Binance (Binance) founder Changpeng Zhao (CZ) posted on X, urging governments around the world to move stock markets to blockchain and issue stablecoins backed by their national fiat currencies. Prior to this, CZ had met with government officials and financial regulators in Asian countries to discuss blockchain technology and the future of digital assets.
RWA.xyz data: Tokenized real-world assets reach $32 billion by mid-2026
According to RWA.xyz data, the value of tokenized real-world assets on public blockchains is about $6 billion by mid-2025, reaching about $32 billion by mid-2026—more than quadrupling within a year. BCG forecasts that the tokenization market size could reach $16 trillion by 2030. On social media, CZ said: “Countries need to tokenize their stocks so that global buyers can participate.”
The main advantages of tokenized stocks include: 24/7 trading (breaking through the time-window limits of traditional markets), support for partial ownership (allowing purchases of small portions of high-priced shares), and faster settlement (compared with traditional stock trading that may take days). As of now, no country has deployed an entire securities exchange on a blockchain.
DefiLlama data: USD-pegged stablecoins make up nearly 99% of the global market
According to DefiLlama data, USD-pegged stablecoins currently account for nearly 99% of the global stablecoin market share, with a total market cap of about $315 billion; the two largest stablecoins by market cap are Tether (USDT) and USD Coin (USDC).
Binance co-CEO Richard Teng recently said that among users in emerging markets on the platform, 36% of users hold at least half of their assets in stablecoins, reflecting the real-world use of stablecoins in everyday payments and financial transactions. CZ argues that governments should issue stablecoins backed by their national fiat currencies, saying this would help expand the use of local currencies across blockchain networks and digital payment platforms.
CZ’s government advisory roles in three countries: Current cooperation status in Pakistan, Kyrgyzstan, and Kazakhstan
According to reports, CZ currently serves as a strategic advisor to Pakistan’s crypto commission; provides consultation for Kyrgyzstan’s crypto program, including a gold-backed stablecoin; and Binance has been approved to help Kazakhstan develop a crypto trading platform. All of the above are specific cooperation relationships confirmed in reports, reflecting CZ’s actual involvement at the level of government policy advisory.
FAQ
How is CZ’s proposal for tokenized stocks different from existing tokenized stock products?
According to reports, multiple crypto exchanges have already offered tokenized versions of stocks and ETFs, but they are all specific products from private platforms. CZ’s proposal is an overall push at the level of governments—getting countries to allow their stocks to be tokenized—so that global investors can participate directly. As of now, no country has deployed an entire securities exchange on a blockchain.
What is the basis for BCG’s $16 trillion prediction for the tokenized market?
According to BCG forecasts cited in reports, the tokenized market size could reach $16 trillion by 2030. This is a market forecast from BCG (Boston Consulting Group), based on assumptions such as growth trends in tokenized real-world assets and institutional adoption rates. It is a predictive estimate, not a realized figure. RWA.xyz provides real-time market data for mid-2026 ($32 billion) as the current benchmark.
What are the main challenges faced by national stablecoins?
According to reports, the main challenges for national stablecoins include: establishing a regulatory framework, improving adoption and developing a user base, and defining the relationship with central bank roles. The report notes that many governments are still exploring how digital currencies can fit into existing financial systems, and the timing for large-scale government adoption of blockchain technology remains uncertain.
